Pat & Oscar’s, a San Diego-based restaurant chain with 19 locations, was acquired from Australia-based Pacific Equity Partners in a management buyout led by its CEO John Kaufman and Vice President Tim Foley.
The announcement was made Jan. 22, but the price was not disclosed. Pat and Oscar’s restaurants are all in Southern California, including 10 in San Diego County. Others are in Los Angeles, Orange County and the Inland Empire.
Kaufman and Foley joined Pat & Oscar’s in April, and within the past few months have directed all management efforts, including the transition plans.
The company was founded as Oscar’s in 1991 by Oscar Sarkisian and his wife Pat Sarkisian, who sold it to Culver City-based Sizzler in 2000. Sizzler changed the name the following year to Pat & Oscar’s to avoid a trademark conflict.
Sizzler sold the Pat & Oscar’s chain to Pacific Equity in 2005. No other financial details were given.
Pat & Oscar’s, which has chicken, ribs, pizza and pasta entrees on the menu, is categorized as a fast-casual chain, meaning that it is between fast-food and sit-down dining.
, Connie Lewis